MEED: Oil and Gas Market 2018 in MENA Region is Expected to Witness Investment of $399bn by 2025

With more than 50 per cent of global crude oil reserves and over 45 per cent of its gas deposits, the Middle East and North Africa (Mena) region is one of the world’s leading hydrocarbon projects markets. The need to meet rising local and international energy demand has driven high levels of investment in oil and gas capital projects in recent years, with over $357bn-worth of major contracts awarded from January 2011 to December 2017. These investments cemented Saudi Arabia’s position as the most influential global oil exporter and propelled Qatar into number one spot for both liquefied natural gas (LNG) and gas-to-liquids (GTL) production.

During 2017, the region saw $57.4bn-worth of contract awards, with about 50 per cent of the investments targeted towards downstream activities. Meeting rising petroleum demand and reducing reliance on petroleum imports have been the areas focus for most countries in the region, as is reflected in the nature of contracts awarded during last year.

Oil companies are considering investing in the development of downstream resources, while investments in the upstream sector are progressing at a steady pace. Notably, the total value of active upstream oil projects in Saudi Arabia increased to $21.4bn at the start of August 2017, the highest level in the last five years. However, most upstream oil projects are aimed at offsetting declines in existing fields and not at increasing production capacity.

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With Opec production cuts supporting oil prices to some extent, and the hope of further price increase owing to the extension of these cuts through 2018, the outlook for the region’s projects market is positive.
While projects worth more than $250bn are already under execution as of November 2017, the MENA region is expected to witness investment of an additional $399bn in new projects in the oil and gas sector by 2025.

Middle East producers continue to explore and develop their fields, boost production capacities and focus on expanding the downstream sector as the countries witness sustained growth in demand for petroleum products. Planned investments in the upstream sector are expected to reach over $115bn, while that in the downstream are expected to be close to $110bn.

Written by MEED, the Middle East market experts within the GlobalData Group, this is an essential guide and an invaluable tool for companies interested in doing business in MENA oil and gas sector. This report will help to identify opportunities with details of the main projects under construction and those due to be awarded in 2018. It clearly sets out investment drivers and client spending plans and will also help in understanding the risks and set strategy in the regional oil & gas projects market.

Companies Mentioned:

Astro, iQyi, PT Mega Media, Twitch, Baidu, KBS, QuickFlix, V Live, CatchPlay, MBC, SBS, Viacom18, Douyou, myTV SUPER, Singtel, Viu TV, Foxtel, Naver, SK Telecom, Voot, Genflix, Netflix, Sky, YouKou Toudo, Google, Oksusu, Telstra, YouTube, Hooq, Panda TV, Tencent Video

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Scope:

• The MENA region saw $57.4bn-worth of contract awards in 2017, with about 50 per cent of the investments targeted towards downstream activities
• Investments in the upstream sector are progressing at a steady pace with projects aimed at offsetting declines in existing fields and not at increasing production capacity
• An estimated $289bn-worth of planned and unawarded projects in the oil, gas and petrochemicals sector in the MENA region, excluding Iran, at the start of 2018
• The MENA region’s petrochemicals industry has increased its focus on integrating new capacity into existing refinery complexes
• Since the lifting of sanctions in 2016, Iran’s oil and gas projects market has gained pace. By December 2017, the value of all planned oil and gas projects in Iran stood at $99.3bn.
• Saudi Arabia’s national oil company Saudi Aramco has been the biggest oil and gas project sponsor in the region in the period 2012-17, awarding an estimated $39.3bn-worth of major contracts directly.
• The ranking of top contractors has changed considerably. The presence of China’s contractors has been growing. South Korean firms form the most successful national group of contractors.
• The return of the lump sum turnkey (LSTK) contract as the dominant procurement model in the GCC oil and gas market.

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Reasons to buy:

• Discover investment drivers and client spending plans in more than 12 countries
• Identify key project opportunities in the upstream, downstream refining and petrochemical sectors
• Access rankings of the top contractors and clients in each country
• Prepare for specific projects by gaining knowledge of upcoming projects and schedules
• Identify challenges in the market to support risk mitigation.

Some Points from TOC:

1. Executive Summary 8
2. Introduction 14
3. Algeria 31
4. Bahrain 68
5. Egypt 81
6. Iran 139
7. Iraq 219
8. Jordan 287
9. Kuwait 298
10. Libya 368
11. Morocco 391
12. Oman 406
13. Qatar 446
14. Saudi Arabia 478
15. Tunisia 522
16. UAE 535

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